Motorists thinking about selling their car have been advised to make sure one thing is included to prevent seriously reducing its value on the market.
Whilst a strong demand for used cars makes it a good time to sell a vehicle, a large supply of many vehicles means motorists need to do everything possible to get the best price for their current car.
Pamela Murdock, a vehicle expert at the pre-owned vehicle retailer Available Car, noted that the one thing all used car sellers should include to get the best possible price is documentation.
She advised: “When preparing to sell your car, there are several important steps to consider. One of the key factors is ensuring you have a complete set of servicing documents and a well-maintained service history.
“This reassures potential buyers that the car they’re buying is legitimate and has been carefully looked after during your ownership.”
Often referred to as a full service history, documents such as repair invoices and MOT test results can show potential buyers how a vehicle has been cared for over the years.
Vehicles that do not include a comprehensive history of previous servicing and inspections can make other drivers suspicious, either offering a much lower price for the car or walking away entirely.
As a result, motorists who spend a few hours tracing receipts and results to put in a folder alongside the vehicle could add hundreds, if not thousands, to the price of their car.
Pamela highlighted that the V5C should definitely be included within the documents to prevent raising further concerns from potential sellers.
She added: “Although you can sell your car without a V5C, it can make the process much more difficult and it can significantly reduce your car’s value by around 10-20%, though the exact impact depends on the car’s make, model, age, and market demand.
“Buyers generally see a missing V5C as a red flag, suggesting potential issues with the vehicle’s history, ownership, or legality, which can make it harder to sell and prompt buyers to negotiate for a lower price.”
A document issued by the DVLA to prove who the registered keeper of a vehicle is, losing or forgetting to include the V5C document can lead to a severe number of complications in later weeks and months.
If the document is not updated to reflect a change of ownership or address, motoring fines could end up at the wrong address and remain unpaid, causing the keeper on the document facing higher penalties, a court appearance, and a £1,000 fine for not updating the form.
Fortunately, drivers who have misplaced a V5C can order a replacement online or via the phone so long as the overall details have remained unchanged, albeit at a cost of £25.
